Chart the Market (06/05/2025)

XAUUSD

Gold posted a structural breakout after surging above the critical $3,275 level, gaining over 2% and reinforcing a bullish bias. The precious metal found firm support near its long-term uptrend base around $3,200, indicating the broader bullish trajectory remains intact. Momentum indicators point to further upside, with the RSI climbing toward overbought territory and the MACD crossing above the zero line with increasing divergence—both signs of strengthening bullish momentum.

Resistance levels: 3,424.60, 3495.50

Support levels: 3350.00, 3278.00

USOIL

Crude oil prices staged a recovery from their one-month low near $55.50, rallying more than 5% and reclaiming key technical territory. The recent price action saw a gap-fill and a decisive move above the prior low, indicating a potential shift toward a bullish trend reversal. On the momentum front, the RSI has rebounded from oversold territory, while the MACD is trending upward toward the zero line—signals that the prior bearish momentum is fading and may give way to further upside.

Resistance levels: 60.00, 62.00

Support levels: 58.15, 56.60